UK: Geothermal Engineering bidding for share of a US$2.3bn regional fund
Twilight Castle, Redruth, Cornwall/ UK
Alexander Richter
7 Feb 2011
UK based Geothermal Engineering is bidding for a share of a US$2.3bn regional fund aimed at helping private companies with their project aimed at spurring economic growth and create employment in Cornwall, UK.
In a bid to develop a geothermal power plant in Cornwall, UK based Geothermal Engineering is bidding for a share of the GBP1.4 billion (US$2.3bn) Regional Growth Fund, so local news.
Geothermal Engineering, obtained planning permission in the summer to build a geothermal power plant. The company sees a huge opportunity for the deep geothermal energy sector in the UK and in its potential to create up to 30,000 jobs in the country.
“The south west, in particular Devon and Cornwall, has a good deep geothermal resource and we hope the Government will recognise that with a relatively minor investment, Geothermal Engineering Ltd will be able to leverage the private capital required to transform the region by creating new jobs, boosting local industry and attracting private investment across the UK.”, so Ryan Law the Managing Director of the company in the news.
The Growth Fund is to help local companies in their projects which have the potential to lead economic growth and create employment.
Source: Business Cornwall
